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It’s almost as if RRE don’t want investors to buy shares lol !! Are ther any video discussions with management ?
Mike I am very aware of the advantages and drawbacks of small caps ! But inot every small cap suffers the lack of liquidity that RRE suffers from ! I can’t even seem to find company presentations to dig into this company more ! Do you have a link to presentations ? I have read the annual report which is meangliss because the company has changed a lot in the past 9 months ! I have read the RNSs but as mentioned some of them are very vague!
True ,but once acquisitions closed and annual reports released, these will rocket. https://www.investopedia.com/investing/introduction-to-small-cap-stocks/ Look on drawbacks of low mcap, one is lower liquidity. But even so there are plenty of trades with rre. Mountain of liabilities ? Has never been stated. These assets are to last at least six years and have been increased by 1 year in a report. If you go on HL to financials, you’ll be able to see the provisions reserved cash etc.
Mike The shares now are trading at 374p which is what they were trading at since last October !!!! The company is producing over 11,000 bopd which should be valued around 250 million but the mountain of liabilities has made investors dodge it like a bullet! Spread isn’t late because of “low market cap”! Spread is large because nobody wants to buy ! No liquidity ! I wonder why ?
274m provisions and 54m reserves cash. Shares moved from 344p to 405p in last 2 days. Spread larger due to lower mcap, so fewer buyers and sellers, but still only 3% and when a live quote is given the spread is smaller. Think you need to lookover your notes workover
Mike 15 Q1) What is RRE going to do about the hundreds of millions worth of liabilities? Q2) Why have the RRE shares flatlined? Q3) Why is there no liquidity in RRE? And why is the spread so horrendous? Answers on post card
held these before in the £2 3 pound mark and made decent profit,no way they should be at this level .only 1 way from here big profits or lose the lot only 1 scenario i can see and its not losing
If these keep declining they are going to be buying Santos at around about the same value as the whole of Ophir, That would mean that either the market see the value of Ophir as zero or the Santos assets as zero? this doesn't make any sense to me?
The Santos deal is all but done so this should be rising not collapsing?
Makes it even more attractive but I'd still stand by most previous posts of it not being one for people to hold with tight stops in place as you are just risking bringing the price down to close you out.
Anyway that's me done. I bought some a couple of weeks ago and held back last week, if it drops a bit I might buy some more from here.
Good luck one and all.
Is Rre the Ferrari? Rre did capital return of £1.50 last year and the share price was 90p. Share price has tripled in the last year. Ophir no capital return, huge loss share price halved. Easy to pick the Ferrari workover
Circular:
https://www.ophir-energy.com/wp-content/uploads/2018/08/Jaguar-Class-1-Circular.pdf
Where is the info on the vote on Tuesday?
Luck counts What do you expect to miraculously happen next Tuesday? You keep mentioning the vote as it it’s something that could go either way. The vote is just a formality ! The deal is going to get accepted and voted through with no problems! Any other outcome Other than that will be disastrous for OPHR! If the deal does not go through I’m afraid 30p will not be where the shares settle ! It will go much much lower ! But I can’t see that happening...
Mike15 You’re trying to compare apples to bananas ! Comparing OPHR to RRE is like trying to compare a Ferrari to a fiat punto RRE is an AIM listed illiquid, Libiality filled cash guzzler in the North Sea OPHR is main market listed mid tier company which has a very healthy balance sheet and has unfairly (IMO) been treated by market! Do some research on future before trying to ramp your dogs on other BBs Cheers !!
I’ll leave RRE since this is not its BB. I really hope Ophir does well, it’s been battered down for awhile now. I believe it is also undervalued but I honestly believe it could go lower. I purchased some at 49p thinking surely it can’t go lower. How very wrong I was
Luck counts I completely 100% agree with you regarding OPHR and also RRE! Even I was to have a punt on RRE, it would be for a tiny amount as the risks you mentioned were the same I came across ! Regarding OPHR, it just makes no sense ! When I started researching this a couple of weeks back it was sitting at 44-45p now at 39p and falling ! So it has lost another 10% in value in less than 2 weeks!!! It defies all logic ! I buy into the theory that block R uncertainty is the cause of all this and once it is resolved (one way or another) we could start heading in the right direction! In the mean time , anything is possible !! Even 30p !!!!!
I think I agree - at 30p the whole business is valued at just $255m; they are paying $205m just for the Santos pieces so that would mean $50m for the whole of the old Ophir Asian assets, the African investments, Mexico exploration licences and the possibility of Block R coming good
It's far too cheap at the moment - they are taking a beating for some reason
Workover, Why? Ebitda projected $100-120m now higher due to acquisition, Mcap so low. I would like to know as what am I missing out that could be detrimental to my investment Thanks
If it does go to a ridiculous 30p I’m willing to liquidate a number of large holdings and go all-in! With or without block R , 30p is ridiculous!!! Will happily by 300,000 shares + + at 30 p !!!
Sorry Jargon I just read the thread again ! You’re talking about Block R in EG!
Jargonpain Which one of the licenses are you talking about ?
Mike15 I could not think of a worst oily to invest in than RRE! May be UKOG .. RRE is truly awful investment! Thanks for the tip though
Just to clarify that's what I think could happen when they announce the expiry of the licence, could bounce about quite a lot on that day but I think it will be short lived. I think the price will begin to rise above where we are now when that happens. Plus they probably can't sell the business until that is out of the way.
In the nicest possible way this looks weak. Make sure you can cover a drop to something like 30p. In that event I think it will come back, maybe keep on rising.
Told you weeks ago